DALLAS-In a seller-financed deal, a local investment group has quietly taken control of 11 retail properties in South Dallas. The 23,414-sf portfolio, bearing no asking price, carries an assessed valuation of roughly $334,000.

Buyer Maghag Ltd., a subsidiary of SquareFoot Realty Corp. of Dallas, is in the midst of renovating and re-tenanting the package, Philip Cox with Marcus & Millichap in Dallas tells GlobeSt.com. The retail buildings, ranging from 1,000 sf to 3,500 sf, all hold tenants with short-term leases and rents running from $3 per sf to $7 per sf, he adds.

“I knew the buyer would want this,” says the lone broker working the transaction. “I put in front of him and he did want it.” The deal took three months to close with the seller of record, Jeanette Inv. II Ltd. of Dallas. He says the deal shows there are investors willing to invest in South Dallas, despite its ongoing negative press.

Cox is mum about the selling price. The properties have assessed values ranging from $8,700 to $67,570. The buildings are located at 1120 and 2518 Beckley Ave.; 4101 Bonnie View Rd.; 7410 Central Expressway; 3008 and 3020 S. Lamar St.; 4322 Malcolm X Blvd.; 1700 Peabody St.; and 3635, 4120 and 4202 Colonial Ave.

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